HomeMy WebLinkAboutRES CC 2021 4028 2021 0707RESOLUTION NO. 2021-4028
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, DESIGNATING FUND
BALANCE COMMITMENTS AND ASSIGNMENTS FOR
FISCAL YEAR (FY) 2020/2021 AS REQUIRED BY
GOVERNMENTAL ACCOUNTING STANDARDS BOARD
(GASB) 54
WHEREAS, GASB issued Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions (GASB 54); and
WHEREAS, for financial statement reporting purposes, GASB 54 defines
Committed amounts as those constrained to specific purposes by the government itself;
and
WHEREAS, for financial statement reporting purposes, GASB 54 defines
Assigned amounts as those the government intends to use for a specific purpose; and
WHEREAS, the City Council adopted Policy 5.8, Fund Balance Reporting as
Required by Governmental Accounting Standards Board Statement No. 54 (GASB 54),
in City Council Policies Resolution No. 2019-3851 on September 18, 2019.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council designates the following Committed Fund
Balances for FY 2020/2021: Library Fund (1010) for the purpose of providing library
services.
SECTION 2. The City Council designates the following Assigned Fund
Balances for FY 2020/2021 for the future design and construction of infrastructure
improvement projects: Capital Projects (3000), City Hall Improvement (3001 ), Police
Facilities (3002), Equipment Replacement (3003), Special Projects (3004), Remaining
Bond Proceeds (3005), and DOA Settlement Capital (3007). The City Council
designates the following Assigned Fund Balances for FY 2020/2021 for future
equipment replacements: PEG Capital (3006), IT Equipment Replacement (3008),
Vehicle Replacement (3009) and Facilities Replacement (3010). The City Council
designates the following Assigned Fund Balances for use only within the departments
the funds represent: Community Development (2200) and Engineering/Public Works
(2205).
Resolution No . 2021-4028
Page 2
SECTION 3 . The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 7th day of July 2021.
ATTEST:
KySp~
Resolution No. 2021 -4028
Page 3
STATE OF CALIFORNIA
COUNTY OF VENTURA
CITY OF MOORPARK
)
)
)
ss.
I, Ky Spangler, City Clerk of the City of Moorpark, California, do hereby certify
under penalty of perjury that the foregoing Resolution No. 2021-4028 was adopted by
the City Council of the City of Moorpark at a regular meeting held on the 7th day of July,
2021, and that the same was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Councilmembers Castro, Enegren, Groff, Pollock, and Mayor Parvin
None
None
None
WITNESS my hand and the official seal of said City this 7th day of July, 2021.
(seal)